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228059
Decrease in value-adjusted profit for life insurance
statistikk
2015-08-27T10:00:00.000Z
Banking and financial markets
en
forsikring, Life and non-life insurance companies, accounts, profit and loss account, shares, bonds, commercial papers, primary capital certificates, financial instruments, liabilities, equity, lending, borrowers, issuersFinancial institutions and other financial corporations, Banking and financial markets
false
Life and non-life insurance companies, second quarter 2015.

Life and non-life insurance companies, accounts, Q2 2015

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Decrease in value-adjusted profit for life insurance

Life insurance companies had a decrease in value-adjusted profit of 24 per cent compared to the second quarter last year. This is mainly due to a negative net value adjustment in shares, participations and primary capital certificates.

Key Figures. NOK MillionPublished 27 August 2015
Total
2nd quarter 20142nd quarter 2015
Life insurance companies
Assets1 147 0601 256 563
Earned premiums, net of reinsurance73 18262 225
Gross claims payment23 56624 539
Profitt/loss before tax and allocation to customers9 97710 816
Value-adjusted profitt/loss16 44912 462
Net income from financial assets37 14831 012
Non-life insurance companies
Assets219 390232 514
Earned premiums30 68631 934
Gross claims payments24 18725 990
Profitt/loss on ordinary activities9 0966 726
Balance on the technical account for non-life insurance4 2893 309
Net income from financial assets6 1783 959

Source: Statistics Norway

Life insurance companies had a value-adjusted profit of NOK 12.5 billion in the second quarter of 2015. This is a decrease of NOK 4 billion compared with the previous year. One of the main reasons is a negative net value adjustment in shares, participations and primary capital certificates of NOK 7.1 billion in the second quarter of 2015. The profit amounted to NOK 3.8 million; an increase of 35 per cent compared to the same period last year.

Increase in shares in securities funds for life insurance

Life insurance companies’ total assets increased by 9.5 per cent compared to the corresponding quarter last year. Bonds and certificates made up 38.8 per cent of total assets; a decrease of 1.2 percentage points from last year. Shares in mutual funds increased by 13.7 per cent, and as a proportion of total assets, mutual funds made up 35.6 per cent.

Increase in earned premiums for non-life insurance

The balance of the technical account declined by a total of 22.8 per cent, and amounted to NOK 3.3 billion at the end of the second quarter of 2015. The profit of ordinary activities amounted to NOK 6.7 billion; a decrease of 26.1 per cent. Non-life insurance companies’ earned premiums written increased by 4.1 per cent.

Increase in shares, participations and primary capital certificates

The non-life insurance companies’ holdings of shares, participations and primary capital certificates increased by 2.2 per cent compared to the second quarter last year. As a share of total assets, this amounts to 7.8 per cent. This is a decrease of 0.3 percentage points compared to the previous year. Bonds and certificates as a share of total assets amounted to 38.6 per cent; a decrease of 1.3 percentage points from the previous year.